Five things to do now to run your coaching practice like a CEO

There are so many aspects to take into consideration when starting and running your own business; it can be overwhelming. Many coaches start out as typical solopreneurs – doing everything themselves – and some are missing out on their potential for growth, prosperity, and success by remaining in this limiting structure.

In a hypothetical situation, if you had to apply and interview yourself for the CEO role of your coaching practice, what characteristics would you be looking for?

Now, let’s pause for a moment to include here, that when brainstorming these characteristics, you need to take away any and all filters. There are no limitations here, so let your mind come up with the absolute ideal candidate for this role.

Go ahead, grab a paper and pen and jot down the most important characteristics that you would be looking for in this person.

When I do this activity, some of the characteristics and skills that come to mind for me are:

Ability to focus

Creativity and flexibility in overcoming challenge

Solid foundational understanding of business planning and finances including cash flow forecasting and budgeting

Ability to sell and close deals

Strategic business growth strategies including scalability

Strong sense of integrit

Trustworthiness, ethical behavior and clear value

Hunger for continual improvement

Strong leadership and ability to provide clear direction

Grit

Project management and planning for goal achievement

Ability to assess the value of opportunities

Zone of genius (whatever the superpower is that you sell to your clients)

There are more, but this is a good start. The point of this exercise is to highlight the following two insights:

As the CEO of the company, you’re not spending your time with low-level administration.

As the CEO of the company, you ARE spending your time on the things that no one else can decide or do for you,

such as:

a. Giving the tone and direction of the company
b. Big picture planning on where you want to take the company

If you take a moment to assess, what you are currently spending your time on in our business, what kinds of activities ARE you doing?

Be honest. Are these activities driving your revenues?

Are you spending your time in Canva trying to create your logo?

Are you spending hours trying to figure out some cloud-based technology that you’re not familiar with yet (such as creating your landing page)?
Are you following up with clients who had a declined payment because their credit card expired?

If the answer is yes, then I highly suggest you tune in here.

Keep reading for my top five tips to ensure you are running your business like a boss.

1. Delegate

As a successful coach and CEO of your business, your own time is worth too much to be spending on tasks that don’t bring in money. You need to be focussing your own time only on the things that only you can do, and that bring in a high return on your time investment.

If you’re just starting out, you might think you can’t afford to hire someone to help. How can you delegate things to someone if you can’t even pay yourself? Well, for starters, you can sell something you already own. Go through your house, see what you can part with, and sell it on Craigslist, a local Facebook Buy and Sell group, have a garage sale, post it for sale on your local pinboards and even just broadcast it out to people you know. You can surely sell at least a few things that can bring in some money to give your cash flow a boost.

Failing that, jot down any other services you could provide for money, that would bring in more than it would cost you to hire an assistant. If you can easily provide guitar lessons for $50 / hour, and an assistant might cost you $20 / hour. Sell a few hours of guitar lessons and then use that money to buy over twice the amount of time from someone else who is efficient with your lower level business related tasks, to help get you started.

If you absolutely can’t afford to hire out these types of tasks, then try to follow this strategy: Work in your zone of genius as much as possible and continually try to increase the ratio of time spent on money-making tasks to non-money-making tasks as time goes on. Your ultimate goal should be spending 98% of your time doing only money-making, high-level work, and contracting out or having staff do absolutely everything else.

If you have enough cash flow and are already earning a steady income from your coaching practice, then brainstorm any tasks that you are currently doing that are time-consuming and could easily be handed off to an assistant. Then once you’ve delegated them, use the time you have freed up in your schedule for money making activities, such as booking more discovery calls or creating more content.

2. Get your head in the game

As CEO of your coaching practice, you need to be mentally in the game if you want to be successful. What does this entail? You’re a coach, so you’re probably already familiar with the whole idea of having a growth mindset. But do you always practice what you preach? Do you have what it takes to build up your mental toughness?

Mental toughness is the ability to be resilient and maintain confidence in your abilities. In an article from September 17, 2010, on Forbes written by Christine M. Riordan titled Six Elements of Mental Toughness, she explains that being a successful athlete isn’t solely a result of skill, knowledge, or ability. Success partially stems from having mental toughness.

Mental toughness is the ability to handle stress, recover quickly from setbacks, adapt and create strategies to overcome unforeseen hurdles, handle competition, and to have the courage to make the hard decisions to uphold your integrity, values, and ethics.

This need for the mental resilience doesn’t just apply to athletes – it’s universal and applies to everyone who is working on growing a business.

Do you ever find you’re allowing yourself to be dragged down because you’re comparing yourself to others (even other people you have never met before)? Stop doing this immediately. Nothing good will come from comparing yourself to someone else’s success unless you are celebrating it with them and looking at it as a case study from which you want to learn.

Keep your attention focussed on the next steps that will move you towards your own success and take continued and steady action towards achieving your own goals.

3. Persevere, persevere, persevere

Don’t let setbacks deter you from moving forward. Use your failures as learning opportunities. Do better next time. The law of averages dictates that eventually, you will fail at something. But don’t let it determine your self-worth or sway you from steering straight ahead towards your goals. Each mini failure is just a part of your journey. As CEO it is your job to dust yourself off, make any minor adjustments to your plan as you need to get back on course, and then keep moving forward.

4. Generate multiple streams of income

When operating as CEO of your coaching practice, it can be very limiting if you put all your eggs in one basket – one stream of income. Taking on clients solely in a 1-on-1 setting will ultimately limit your income earning potential because you can only take on so many clients every month. Time is your limiting factor.

Even if you’re operating in your zone of genius, spending your time solely on the money-making tasks that only you can do, if you’re exchanging your time as your sole offering, you effectively cap your income. You can realistically only raise your rates so much, depending on what the market will bear.

A more well-rounded business model will ensure that you aren’t relying on only one income stream. If you can fill out your services to offer products or services that are scalable, you can grow your reach, increase your impact, help more people, and do it all with less time.

Scalable business models include products and services that generate income, even when you’re not actively working directly with a single client. These passive income streams could include

Group coaching (online or in person

An information product or mini-course
Take the core principles that you go through while working with your 1-on-1 clients and package them up into a self-study course that your clients can buy and work through on their own time)

Affiliate sales or referrals
If you know of someone who offers high-quality coaching, mentoring or training in a very specific specialty niche and your clients could benefit from working with them, you could earn money through affiliate sales of their products/services or referral fees. Of course, I only recommend this if you truly stand behind the quality of their offering and have your clients’ best interests in mind.

Once you have these various income sources mapped out, you can design your business plan to reflect the various streams. You can stack them up, boost the value of one offering by including one of the others as a bonus ultimately increasing the earning potential per client while adding incredible value.

5. Create clear and concise goals and a plan to get you there

If you want to run your business like a professional, invest the time in creating a full business plan. You can’t know what direction you’re going in if you don’t have a clearly defined vision for your business.

Even if you aren’t running a brick and mortar, traditional style business, the value in having a thorough business plan in place is very high. As CEO of your company, you want to have a strong vision for the business. You need direction. You want to set the tone for all actions and decisions that you make as a business owner.

Every major decision you make should be supporting this bigger vision. You should gear your marketing, branding, growth, and sales strategies towards moving you closer towards your goals and keeping you in line with your company’s purpose, vision, and mission. Every investment (monetary or otherwise) has a clear purpose. Every product, service or other sources of revenue should be in line with the customer experience you envision for your business.

As your business grows and evolves, you need to review this plan (annually at least) and make any adjustments as required. It might seem tedious at times, but the time you invest in creating your business plan and reviewing it on a regular basis, the higher your chances are of achieving the things you set out to attain.

About Alison Beierlein

Alison Beierlein has international training and experience and over a decade of experience in business management. She coaches female entrepreneurs in the areas of leadership, empowerment, confidence, business growth, and self-development. Her goal is to empower women to uncover their larger purpose and design clear strategies to help them achieve their full potential.
In January, 2017, Alison is launching her own show called the License to Receive Podcast where she interviews thought leaders and presents case studies in the areas of abundance, self-improvement, career development, marketing, and entrepreneurship.
After tragically losing her father, Alison has begun raising awareness about mental health and donates a portion of her coaching revenue to the Canadian Mental Health Association and the Centre for Addiction and Mental Health

In today’s guest post coach Kavita C Melwani writes about those times when you feel like you are working and not seeing results. When your goal seem like a far-off dream! Before you are ready to quit, consider if you have reached a tipping point.

3 Essential Steps to Know If It’s Quitting Time or a Tipping Point

As I have been working this week I have had many reminders in my life and business that patience and persistence pays dividends. In our current society of instant gratification it can be increasingly difficult to have the discipline to keep going even when we don’t see immediate results. I know that there are many points in my life and business when I have and do feel frustration. I feel like I am not making progress. When I get to these points I really have to examine how far I have actually come and do an honest assessment of all the seeds I have planted.

What have you been working towards in your life where you just don’t seem to be seeing the results of your hard work? When this happens, do you give up? Take a step back? Or do you persist? If you give up too soon you may miss your tipping point. According to Malcolm Gladwell the tipping point is

” that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire”

In fact, he has written a book about this phenomenon called “The Tipping Point”. So if you have a business and want to be successful your tipping point would be when you start to see your sales dramatically increasing.

Of course I want to clarify that there are points that quitting is the best option. I am not suggesting that you never give up on anything. I do believe that sometimes it is appropriate to quit. Only you truly know if you are quitting because you know that things will not change despite all your best efforts, or if you are simply feeling discouraged. So how do you know if it’s time to quit or you are getting to the tipping point? It’s important to know because you definitely don’t want to quit before reaching your tipping point.

Take a step back. When you are in the middle of situation or problem it is usually much more difficult to look at it objectively. Stepping back and taking a break and then coming back to the situation changes your perspective and solutions/clarity follow. Then you can be honest with yourself about your current situation. Are you holding on to something because you are afraid to let go or are you just tired and need a break?

Write it down. Once you have taken a step back and re-examined your situation the next step is to write. Take some time to write a list of all the things you are done and accomplished, the true progress towards goal or objective.

Prioritize Action. Now that you have written down all the things you have done and accomplished you can review the list and see what has been working for you and what has not. See where you have made progress and other places where you have not moved at all. Now you can brainstorm some new action steps and move forward with these steps and continue the rest until you reach your tipping point. If you look at your list and see absolutely no progress then it may be time to be honest with yourself and change your goal (quit or modify your goal).

After you take these steps allow everything to sit overnight and the right decision for you will be clear. I encourage you to keep going, you may be on the verge of a tipping point.

About Kavita C Melwani

Kavita C Melwani‘s passion is empowering entrepreneurs to live their life purpose. Making life changes takes courage, commitement and support. Her commitment is to help you Transform, Connect, and Destress… Live your Purposeful Life! Empowering you to move past your stressed and overwhelmed life into a life of ease and flow moving towards fulfilling your dreams, desires

If you need motivation, guidance to reach your goals, please contact Kavita for a complimentary consultation.

Email Kavita Melwani, M.Ed at *protected email* for a complimentary consultation to see how you can reach your tipping point.

Creativity Is Essential For Your Business Success

In my personal life and in my business coaching I place a lot of importance on creativity.

Not just because I think it’s an essential component of living an abundant life, but also because it’s an important aspect of business success.

Although it may seem counter-intuitive to think so, all businesses require creativity.

Every type of business is in danger without it. And yes, this includes your business and mine.

Some would say that creativity is reserved for businesses involved in the arts or for those who label themselves as Creatives. But actually this couldn’t be farther from the truth.

Without creativity, a previously successful business can quickly become one that fails. One that withers and fades away. One that loses relevance.

Creativity is not some fanciful, woo-woo, unsubstantiated process. Creativity is not some magical gift you are either born with… or not.

Creativity is the ability to see things from a different perspective. Creativity is the ability to – wait for it – have new ideas.

You are creative. Have no doubt!

Creativity in business is not as simple as “you are” or “you aren’t”. Creativity in business is not one single thing. It is complex. It’s multi-faceted and multi-dimensional. And it can look different in different businesses.

But no matter your business focus, when you infuse your problem-solving with imagination, you are being creative. When you add imagination and open-mindedness to your logic and knowledge base, you are being creative.

If you aren’t able to see yourself as creative, if you aren’t able to be open-minded about the possibilities and opportunities ahead of you, if you aren’t able to imagine a different way of doing things in the future… you risk stagnating and ultimately, failing.

If you aren’t able to see yourself as creative, you risk NOT building the business you dream of. Because if you can’t envision it, you can’t create it.

Your business needs your creativity to weather the ups and downs. Your business needs your creativity in order to thrive, not just survive, the inevitable changes in the landscape of this ever-changing world.

When you are the thought leader for your tribe, you are expressing your creativity.

When you are tapping into your intuition, becoming an even more effective guide for your clients, you are expressing your creativity.

Your creativity is what allows you to identify new and profitable business growth opportunities, as well.

The ways in which your creativity is expressed in your business is limitless, really.

In reality, you are expressing your creativity in ALL aspects of your business – especially as you flourish.

But wait! That sounds like a LOT of pressure if you aren’t comfortable it, right?

Aha! I know how you feel.

I too used to think I was anything but creative. I mean, I’m a left-brain, logical scientist for Pete’s sake! How in the world could I be considered creative?!

Let me help you reframe your definition of what is creative and more importantly, WHO is creative.

Here are just a few of the characteristics associated with creativity:

– Curious

– Flexible

– Imaginative

– Future-oriented

– Resourceful

– Prepared to make mistakes

– Adaptable

– Sees possibilities

– Open mindedness

– Synthesizes information for others

– Sees connections

– Visually oriented

– Motivator

– Willing to take a risk

– Takes the initiative

An intriguing list, yes? And most likely not at all what you thought it would be.

Can you find at least a couple of those characteristics that describe you – especially when it comes to your business? I have no doubt that you can.

Which proves my point: YOU are creative.

And your business is going to succeed when you allow yourself to express your creativity.

In fact, expressing your creativity is indeed essential to the success of your business.

So let yourself go all out and let loose! Stop telling yourself and everyone else that you aren’t creative.

About Margie Beiswanger

I am passionate about showing you how your brilliance can shine even brighter!

I teach entrepreneurs how to translate their unique expertise into signature programs so they can reach more of their ideal clients, leverage their time, expand their business, and earn a good living. Let me show you how. Visit http://TransformYourBrilliance.com to learn more.

Is it Wrong Not to Have a Goal?

Since becoming a life coach 7 years ago I always had a goal that I was working towards. Some I achieved, some I changed along the way and some just didn’t happen but that was ok, I learnt valuable lessons.

I was focused, I challenged myself and I achieved a lot.

Last year I tried something a bit different. I set intentions rather than specific goals. For me an intention is being the goal now, rather than putting off what I want to experience until after something has happened.

To clarify my intentions I began by setting goals, to get an idea of what I really wanted to create in my life. Then I asked myself, how will I be being once I have achieved this? A year ago it was Love, Divine Health and Abundance.

I then set off throughout the year just focusing on being that in everything I did. Rather than planning what had to happen for me to feel it.

What I discovered was that I was still in action, I was still creating but it wasn’t completely fixed. I was open to the unimaginable. There wasn’t one specific thing to achieve but I was open to exploring different ways of being what I wanted most in my life. I paid attention to my inner guidance to lead me to what was the next action to take, rather than what was planned on a milestone list.

The results; I had a relationship, I deepened my sense of love for myself and everyone in my life, I did volunteer work, I am very close to curing my asthma for good, I lost weight, I didn’t get ill all year and my business continued to evolve nicely.

Now don’t get me wrong. I still like goals and there are always specific things I’d like to achieve and using the goal technique of putting that in writing then planning what has to happen to make it a reality is powerful. I wouldn’t be where I am now if I hadn’t of done that. I am just enquiring if goals are always necessary for everything?

Since exploring this I have actually attracted a few coaching clients who have started off setting goals then once achieving them they have preferred to experiment with intention. Once their specifics were attained they have found intentions have really shifted how they are being each day, and sometimes it’s been the other way around.

I have one client for example who is focusing on being kind and being joy each day. He had started off with a specific goal around writing but it wasn’t until he started just focusing on his intentions that his creativity really started to flow.

I think there is value in having both, a goal and an intention of how you are being in the moment around achieving the goal. Especially when someone is new to personal development and goal setting.

I suggest to clients effective ways of keeping the intention in mind are post it notes around their home and reminders in their phones. It’s also great to have a few moments in stillness when you get up to repeat an affirmation of the intention and consider what you may do today to be it. You can even create your daily to do list based around it.

I’d love to hear your thoughts on this.

About Louise Gillespie-Smith

Louise Gillespie-Smith runs a business called Create Yourself which empowers and supports people in making positive change in their life. She has a holistic toolkit of resources, life coaching/NLP/ yoga/ reiki/ image consultancy, to create individually tailored packages based on what each client needs. Louise@createyourself.co.uk /07779 150886.

Getting Your Client’s to RACE towards their dreams in 2014 (beyond the second week of January!)!

Of course there’s no surprise that people tend to start out the New Year hoping that this will be the year when those changes will really happen. They’ll lose the weight, land the perfect job, develop a great social life, find their life partner or leave the one who isn’t making them happy.

The list goes on and I’m sure you agree that for us coaches, there’s lots of opportunities to help clients change their lives for the better around this time of year. They have the motivation, will and determination to invest in themselves and their lives.

Yet, despite this surge of energy and optimism, so often people soon lose sight of their goals and ambitions. They get busy with their day to day lives, old habits kick back in and once again their comfort zone is keeping them prisoners of the same reality they’ve been experiencing, probably for quite some time.

Having a life coach can, of course, make a huge difference. However, for many it turns out not to be enough. What started out as an exciting journey for the coachee and rewarding and energising work for the coach, then turns into a disappointing and frustrating experience for both of a ‘stuck’ client.

So why does this happen, when the person seemingly really wants the changes they set out to achieve? The problem might very well lie with the goal, not with the dedication or ability of the client. In my coach mentoring I help coaches decipher whether their goal setting actually empowers the client enough to make the desired changes their new reality. Frequently I help them see how the main tool used in goal setting today isn’t enough. Namely, the acronym SMART (Specific, Measurable, Achievable, Realistic, Timely).

I totally agree that the rules applied here are sound, however, SMART only deals with the goals. Not the person who’s going to achieve them. This is where RACE comes in. RACE is to the person, what SMART is to the goal. Here’s what it stands for:

Responsibility – this is about the fact that unless a client takes full responsibility for their own goals and dreams, they will never reach them. That ownership is pivotal! People tend to blame others or the circumstances they’re in for their own failings – it’s only by taking complete responsibility that they are in control of reaching their goals. Similarly, people often put their own happiness and ambitions in the hands of others. If a client’s dream or target involves someone loving them more or someone saying sorry to them, they are really setting themselves up for failure. They are in no way in control of this happening and they therefore can’t take responsibility for it or make it happen.

Action – people tend to plan, analyse, discuss and make decisions on how they’ll improve things and what they’ll achieve in their minds and with those around them. In the process of doing so, they can almost feel like they actually are moving closer to their goals. However, it’s only when they take actual action and DO something that they start moving towards them. Many little things will add up to the big stuff – get clients to focus on at least taking one small action in the right direction every day.

Commitment – if they aren’t dedicated and committed to achieving their dreams they’ll quickly lose sight of them. Ultimately, growing as people and instilling positive change in their lives will involve some degree of discomfort. After all, it has to involve them pushing themselves out of their comfort zones. To stick with it when the going gets tough (maybe when the ice cream craving sets in, when the unknown feels scary, when letting go of control is daunting, and so on …), they must be completely committed to themselves and they own goals. Wanting something isn’t enough, they must be 100% dedicated to accomplish it!

Emotional – clients must be emotionally attached to their dreams and goals. This is so pivotal for personal success as if they don’t care sufficiently about them to stick with them when distractions or challenges come along, they’ll be long gone by the time February arrives! They must be perceived as friends. This is also why it’s vital that the motivation for their goals comes from themselves in the first place – if they are developed for the benefit of someone else, such as to please their partner, boss or parent, they won’t have this important emotional connection to them. The goals may sound great in theory but they could soon feel more of an enemy than a friend, and that’s never going to work!

I hope you have lots of exciting work coming your way this month, and when it does, make sure these four ingredients are in the mix when establishing your clients’ goals, and once you, and they, are confident that they are, set them off to RACE towards their dreams!

About Charlotta Hughes

Charlotta has been coaching professionally for over 12 years and in March 2013 she won Life Coach of the Year, awarded by the national body Association of Professional Coaches, Trainers and Consultants.

Her background is within Human Resources and she started her busy coaching practice, be me life coaching, in January 2007.

Her academic qualifications include professional Life and Corporate Coaching qualifications. She also has a BSc (hons) in Psychology & Computing, an MA in Human Resources Management and she is a Member of the Chartered Institute of Personnel and Development.

“Without a vision people will perish”

The majority of our modern society is removed from many of each day’s activities, caught in the cycle of keeping up with what everyone else is doing and not focusing on themselves or their own long term goals, which will impact their life personally and professionally.

Having a greater vision of where you want your life to be at any given moment is within reach of every person who is envisioning the end result, where they want to be. What mark will you leave on this world?

Each day is truly a gift and with the gift you and you alone are allowed to determine the outcome of your actions. Think back to a time in your younger years when you were asked if you wanted a special gift for your birthday, graduation from school, or from Santa Clause.

The young child will make grandiose requests for a shiny toy, a certain electronic gadget and the more important clothes item that “all the other kids have”. Then after a lengthy sales pitch, prolonged reminders and constant communication by the child that desires it, the item will ultimately find its way into that child’s possession.

The teenage years bring about the same types of requests with even more specifics geared toward the latest and greatest item. I am very fortunate to coach both my daughter Juliana’s basketball and softball teams along with my son Drew’s basketball, little league and travel baseball teams. Many of the requests that come from my children are from the sports related, electronic communication devices (can we say Apple) and fashion minded clothing apparel wish list.

We truly need to be more like our children in our thinking and our approach to life. A bigger picture of life with unlimited boundaries with very little stress? Have you ever seen a child under 12 years of age stressed out?

What is our purpose in life? What do we hope to accomplish, achieve, conquer and leave our mark creating our legacy during our life? Some of us will teach, some will coach, be parents, work in the various service industries, trades using your given talents, become writers, bloggers, social media experts and some will even become entrepreneurs based upon the previous mentioned talents.

Paired with our purpose we also create the vision for what our future will be, we determine our future with the words we are saying. Proverbs 18:21 says the tongue has the power of life and death. We don’t realize what power our words can have impacting positively or negatively in all situations we come in contact with in our day to day lives.

In preparation for writing this blog piece I was reflecting on many of the various goals I had made for myself, work diligently toward, readjusted my course of action and ultimately overcame the many challenges and achieved what I had sought after. My life has been a series of goals, actions steps and ultimately achievement through a step by step approach. Hard work & determination can achieve anything when paired together to overcome the tallest of challenges and the most difficult of goals.

The hardest part of any journey is the first step. Where do you envision yourself in 3 months, 6months, 1 year, 2 years and even 10 years from the time you read this article. What do you picture yourself doing, how detailed are you in that vision of success?

Another key element to fulfilling that vision of success is having a burning desire. A desire that burns to your inner core, that same desire that will reinvigorate you on the darkest of days and make the brightest of days even more meaningful because you are one step closer to achieving that goal. Your vision is your picture of your future – your desire is what will transform your dream into a reality.

My career is in healthcare sales. My day to day activities are different than many people in other career choices. In sales, you and you alone have to motivate yourself, execute your plan, readjust your plan and then repeat the successful part of that plan daily. Day after day, week after week and year after year. The sales goals will get bigger and the demands of the position will increase. It takes a time tested approach, a vision and a burning desire to achieve what you truly want in life.

When you finish reading this article, think about something that you have been putting off, something you would like to do, but haven’t gotten to it. When its important enough to act upon and follow through on, that is when the vision will become a reality.

Most importantly believe in yourself, your abilities and what you are truly capable of. You have been successful throughout your life to this point, why wouldn’t you continue to achieve greater things as your progress forward. When the challenges become more demanding a more creative plan is required. That creative plan will enable you to achieve that desired result. Just as we have all found this blog site from various parts of the world, that same vision and desire will allow you to explore new boundaries of opportunity within yourself creating greater outcomes and endless opportunities for greater success.

Make that goal, be daring, really stretch yourself, have the desire to see it through and you will amaze yourself in what you will be able to accomplish. Make it quickly because tomorrow is coming faster than you think.

I look forward to hearing of your successes and accomplishments. Can Do! Yes, you Can!

About the Author/Further Resources

Andrew A.Faccone, MBA can provide insight regarding his expertise within the healthcare industry. He can also provide valuable business acumen and coaching insights.Andrew is available for speaking engagements for any size business organization as well as personalized business & career coaching.

Previously on Coaching Confidence:

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